Global Rose Oil Market Is Anticipated to Surge Approximately $24.3 Billion By 2030
Industry Perspective:
The global rose oil market size was evaluated at $12.1 Billion in 2022 and is slated to hit $24.3 Billion by the end of 2030 with a CAGR of nearly 11.1% between 2023 and 2030.
The rose oil market report offers market basket analysis, porter five force analysis, PESTEL analysis, SWOT analysis, market attractiveness analysis, and value chain analysis. We also include factor analysis, key drivers, market restraints, challenges, and opportunities available in the global rose oil industry. We provide comprehensive information and an overview of each player in the global market along with benchmarking adopted by these players to stay ahead of the competition.
Rose Oil Market: Overview
Rose oils are a kind of essential oil that is derived from the petals of various kinds of roses. It is derived with the help of steam distillation with rose absolutes obtained through the help of solvent with the former being utilized in perfumes. Reportedly, rose oil finds a plethora of applications in aromatherapy, personal care & cosmetic industry, and perfumes. Demand for curing anxiety, stress, depression, menstrual cramps, menopausal symptoms, and migraines has led to huge demand for rose oils. Furthermore, skin care products comprising rose oils assist in dry skin hydration, clearing of acne, reduction in aging signs, and reducing scars, eczema, and rosacea on the skin.
Key Insights
- As per the analysis shared by our research analyst, the global rose oil market is projected to expand annually at the annual growth rate of around 11.1% over the forecast timespan (2023-2030)
- In terms of revenue, the global Rose Oil market size was evaluated at nearly $12.1 billion in 2022 and is expected to reach $24.3 billion by 2030.
- The global rose oil market is anticipated to record massive growth over the forecast period owing to surging consumer inclination towards the use of natural & organic ingredients in their routine activities.
- Based on the product, the conventional segment is predicted to dominate the segmental space over the forecast timeline.
- In terms of application, the fragrances & cosmetics segment is slated to contribute majorly towards the market growth over 2023-2030.
- Region-wise, the Asia-Pacific rose oil market is projected to register the highest CAGR during the assessment period.
Rose Oil Market: Growth Factors
Growing customer demand for natural products to boost the global market trends
Surging consumer inclination towards the use of natural & organic ingredients in their routine activities will steer the growth of the rose oil market across the globe. In addition to this, the anti-bacterial, anti-spasmodic, and anti-depressant features of rose oil have made it a harmless & safe substitute for various allopathic medicines. This aspect will boost the global rose oil market trends. Furthermore, the product is used in cosmetic items as it offers a soothing smell, calmness, and serenity to individuals. Growing demand for herbal products for retaining skin health has translated into the huge use of rose oil, thereby prompting global market trends.
In addition to this, the ability of rose oil in tackling inflammation and redness of skin will proliferate the growth of the global rose oil market. In addition to this, users who have dry and sensitive skin prefer rose oil which helps in moisturizing the skin for an elongated period. The move is likely to expedite the growth of the global market. Rise in disposable income of customers has led to massive purchases of skincare items, thereby enhancing the growth of the market across the globe.
Rose Oil Market: Hindrances
High costs of the product can decimate the global industry growth
Huge product costs in comparison to other kinds of essential oils can be an impediment in the growth path of the global rose oil industry. Surge in packaging costs has decimated the demand for rose oil in recent years.
Rose Oil Market: Opportunities
Growing popularity of products in food & beverages to create new opportunities for growth in the global market
A prominent use of rose oil in food & beverages and cosmetics along with new product innovations has created a slew of opportunities for the global rose oil market. Apart from this, the growing inclination of the global population towards the use of organic and natural ingredients will further open new horizons of growth for the global market.
Rose Oil Market: Challenges
Inconsistency observed in supply chain management can be challenging for industry growth across the globe
High raw material costs and an increase in transportation costs have posed a huge challenge for the global rose oil industry. Apart from this, fluctuations in supply chain activities and demand for durable primary, secondary, and tertiary packaging have proved to be a bigger challenge for the manufacturers in shipping the products from one place to another.
Rose Oil Market: Segmentation
The global rose oil market is sectored into application, product, and region.
In terms of application, the global rose oil market is divided into fragrance & cosmetics, pharmaceuticals, and food & beverages segments. Furthermore, the fragrance & cosmetics segment, which accounted for nearly 70% of the global market share in 2022, is projected to lead the segmental landscape in the next eight years. The segmental expansion in the forecast period can be due to a rise in the end-user demand for perfumes with fruity & floral notes. Apart from this, many luxury products provide scents with rose fragrances. Moreover, rose oil is used in producing aromatic room fresheners, thereby steering the growth of the segment.
Based on the product, the global rose oil industry is segregated into organic and conventional segments. Moreover, the conventional segment, which accounted for 80% of the global industry share in 2022, is set to lead the segmental surge in the years ahead. The growth of the segment over 2023-2030 can be credited to consistent demand for rose oil that is cultivated by conventional procedure. Moreover, the costs of rose oil prepared through the conventional method are cost-effective in comparison to organic one, and hence rose oil producers prefer the conventional way of manufacturing rose oil as well as its ingredients. Apparently, conventional rose oil works effectively when combined with other essential oils.
Recent Breakthroughs
- In the second quarter of 2023, Saudi Arabia has invested nearly $17 million in producing roses for its Taif Rose Festival which will be held during the harvest period. Reportedly, Taif province possesses more than 910 rose farms and nearly 70 rose processing units & labs for deriving eighty products that will be used for manufacturing rose oils and other kinds of personal care products & fragrances.
- In April 2023, Alteya Organics, a key manufacturer of organic skin care & baby care products, offered various rose-based products to countries in Europe and Asia. The move will boost the expansion of the global rose oil market.
- In the first quarter of 2021, Robertet Group, a France-based fragrance & flavor as well as aromatic product manufacturer, has decided to produce new rose-based flavors for its customers in the U.S., UK, India, China, South Korea, and Japan.
Rose Oil Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Rose Oil Market Research Report |
| Market Size in 2022 | USD 12.1 Billion |
| Market Forecast in 2030 | USD 24.3 Billion |
| Growth Rate | CAGR of 11.1% |
| Number of Pages | 215 |
| Key Companies Covered | Alteya Organics, LLC; Firmenich International SA; Sigma-Aldrich, Inc.; MANE FILS SA; Symrise AG; Ernesto Ventos SA; Givaudan SA; Baker v. International Flavors & Fragrances Inc.; Robertet SA; and BERJÉ INC. |
| Segments Covered | By Product, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 - 2030 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Rose Oil Market: Regional Insights
European rose oil market to witness substantial growth in the forecasting years
The European continent, which accounted for two-fifths of the global rose oil market revenue share in 2022, is anticipated to lead the regional market surge over the forecast timespan. The regional market growth over 2023-2030 is subject to escalating demand for natural ingredients and oils in the countries such as the UK, France, and Italy. In addition to this, the presence of key manufacturers in Germany, France, and the UK has boosted product sale in the continent.
On the other hand, the rose oil industry in the Asia-Pacific region is predicted to register the fastest CAGR in the forthcoming years. The regional market expansion over the forecast timeline can be due to the strong presence of pharmaceutical firms in the countries such as India, China, Singapore, Malaysia, and Japan. Rise in the use of herbal products for treating skin ailments will further spur the regional market surge.
Rose Oil Market: Competitive Space
The global rose oil market profiles key players such as:
- Alteya Organics LLC
- Firmenich International SA
- Sigma-Aldrich Inc.
- MANE FILS SA
- Symrise AG
- Ernesto Ventos SA
- Givaudan SA
- Baker v. International Flavors & Fragrances Inc.
- Robertet SA
- BERJÉ INC.
The global rose oil market is segmented as follows:
By Product
- Organic
- Conventional
By Application
- Fragrance & Cosmetics
- Pharmaceuticals
- Food & Beverages
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Comments
Post a Comment